South African International Relations Minister Naledi Pandor confirmed the full membership of Saudi Arabia, Iran, Egypt, Ethiopia and the United Arab Emirates (UAE) during a Jan. 31 press briefing in the capital Pretoria. The five nations accepted the invitation from the BRICS core group extended during a summit last year. She also told members of the media that Russia, which takes over as the group’s chair from South Africa, has received written interest from 34 countries that want to join.

According to Pandor, Argentina has been accepted as a full member of the BRICS group. However, Argentinian President Javier Milei reversed course and instead strengthened relations with the West. “Argentina has written to indicate that they will not act on this successful application by the previous administration to become full members of BRICS, and we accept their decision,” she said.

The South African minister added that she and her colleagues in the group are developing a so-called BRICS partner country model. This model, Pandor said, would accommodate 17 nations that weren’t accepted as full members.

Moreover, she mentioned that the group is also devising a framework to allow members to use their local currencies for inter-BRICS trade. According to her, the group found the current international payment system that uses the U.S. dollar to be “unfair and costly.”

Ullas Rao, an assistant professor at Heriot-Watt University‘s Edinburgh Business School, noted that the inclusion of Riyadh and Abu Dhabi in BRICS is a “particularly noteworthy” development. With the two oil giants’ substantial sovereign wealth funds, they are poised to create significant growth opportunities in BRICS through investments, trade and commerce.

“The expansion of the BRICS multilateral bloc to include Saudi Arabia and the UAE augurs extremely well, amid ongoing geopolitical and economic challenges confronting the world economy,” he told Economy Middle East.

BRICS grows to 10 members from initial 5 core countries

According to Bloomberg, leaders of the five core BRICS nations – Brazil, Russia, India, China and South Africa – “agreed to enlarge their BRICS group from Jan. 1 at a summit held in Johannesburg in August” of last year. The inclusion of the five new members, which expands the group to 10 nations, took effect on the same day as Russia assumed BRICS’ rotating chairmanship.

Russian President Vladimir Putin welcomed the five new member nations in an official statement. He said: “BRICS is attracting an ever-increasing number of supporters and like-minded countries that share its underlying principles – namely, sovereign equality; respect for the chosen path of development; mutual consideration of interests; openness; consensus; the aspiration to form a multi-polar international order and a fair global financial and trade system; and pursuit of collective solutions to top challenges of our time.” (Related: Saudi Arabia fortifies relations with Russia, thumbing its nose to the West.)

Ayham Kamel, head of the Middle East and North Africa research team for consultancy firm Eurasia Group, commented on the development. He specifically zeroed in on the inclusion of Riyadh, Abu Dhabi, Tehran and Cairo in the BRICS group.

“The prospect of Saudi Arabia, the UAE, Iran and Egypt joining BRICS creates new mechanisms that force a degree of political cooperation by all the countries,” Kamel said. “The Arab countries are looking [to improve] their global geopolitical influence.”

Head over to DeDollarization.news for more stories about BRICS. Watch Gregory Mannarino explains why Saudi Arabia’s BRICS membership poses a direct threat to the petrodollar.

This video is from the High Hopes channel on Brighteon.com.

More related stories:

• Saudi Arabia, UAE and Iran among six countries invited to join emerging BRICS global superpower.
• Dollar dominance scheduled for TERMINATION as Saudi Arabia declares CHINA its “reliable partner.”
• China bank collapse under way; Saudi Arabia distances from the petro dollar to join BRICS monetary order.
• BRICS to lay foundation for EXPANSION: 13 Nations formally asked to join group, 6 others expressed interest.
• End of petrodollar edges closer as Saudi Arabia looks set to join new China-dominated ‘BRICS’ economic alliance.

Sources include:

• Bloomberg.com
• EconomyMiddleEast.com
• GulfBusiness.com
• Brighteon.com

It’s a report from the Middle East Media Research Institute that explained the writings are from Al-Thobaiti in the Saudi daily Okaz. The punishing article was headlined, “They Hide in Their Tunnels and Sell Out Their People For a Paltry Price.”

The author “condemned the fighters of the Hamas military wing, who hide in tunnels in Gaza, as well as Hamas’ leaders abroad, who stay in luxury hotels, saying that they all forsake their people instead of fighting Israel.”

He pointed out that they “resemble numerous other leaders of terrorist organizations, such as al-Qaida founder Osama bin Laden and the Islamic State leader Abu Bakr Al-Baghdadi, who hid in tunnels or in fortified houses with the members of their family while leaving their supporters alone in the fray.”

He charged that “the Islamic nation” is being “deceived by ‘a gang of cowards and traders in blood’ who sell their people illusions and bring them nothing but death and destruction.”

Al-Thobaiti wrote, “Before America’s invasion of Afghanistan, [the late al-Qaida founder Osama] bin Laden, fearing for his life, used to hide in the caves of Tora Bora. He chose fortified caves for himself, his children and his wives, and for the elite [of his organization], so they could save their lives, while leaving his followers [to face] the American missiles. After [the Americans] invaded [Afghanistan], he arranged a fortified house for himself in Pakistan…, and sufficed with prompting and goading the simple folk to wage terror, while he himself lived peacefully with his four wives, one of which was a minor he had brought to pleasure him while he oversaw [the terror activity] from his Pakistan home.”

He documented similar behavior by the late Iraqi president Saddam Hussein, al-Baghdadi and Hezbollah secretary-general Hassan Nasrallah.

“Hamas leaders, along with their children, live in luxury in five-star hotels [in Qatar], and have immeasurable wealth, and at the same time give high-flown speeches about resistance. As for [Hamas] fighters, after bringing death and destruction upon the Gazans, they hid themselves in tunnels and left the Gazans to face their fate [alone], exposed to the cruelest Israeli weapons and to a merciless army,” he complained.

“Sadly, these are the people whom the [Islamic] nation praises. A group of cowards and traders in blood, who are the root of the disaster of this region. A genuine, brave and devoted commander stands with his followers and leads them. These guys are interested [only] in the vanities of this world,” he warned.

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This plan was initially conceived by a close confidant of Mohammed Bin Salman named Ali Shihabi.

According to the plan, Jordan, Gaza and the West Bank would be merged into a single unit known as “The Hashemite Kingdom of Palestine”…

One topic for discussion will assuredly involve the implementation of the Saudi-based Hashemite Kingdom of Palestine solution published in Al Arabiya News on 8 June 2022. Its author – Ali Shihabi – is a confidant of Saudi Crown Prince and Prime Minister – Mohammed Bin Salman (MBS) and also a member of MBS’s advisory board on Neom – a US$500 billion megacity being built in north-western Saudi Arabia covering an area equal to the size of Israel.

Shihabi’s plan calls for the merger of Jordan, Gaza and part of Judea and Samaria (West Bank) into one territorial entity to be called “The Hashemite Kingdom of Palestine”

The Netanyahu government has always been deeply concerned about the security risks that an independent Palestinian state would pose, but putting the Palestinians under the umbrella of Jordan would potentially mitigate those security risks.

And it is important to note that this plan has not been publicly rejected by Jordan, the PLO or Hamas since it was first published…

Shihabi’s plan has not been rejected by King Abdullah (Jordan), Mahmoud Abbas (PLO) Ismail Haniyeh (Hamas) or MBS in the seven months since its publication.

Needless to say, I am 100 percent against this insidious plan.

But it doesn’t matter what I think.

What matters is what the parties think, and right now they appear to be optimistic that a deal can be achieved.

Just last month, Israeli Prime Minister Benjamin Netanyahu boldly declared that we are “about to witness a pivot of history”…

Saudi Arabia is a leader of the Arab and Islamic world. It has never formally recognised Israel since the creation of the state in 1948.

Israeli Prime Minister Benjamin Netanyahu talked up the possibility last month, claiming: “We’re about to witness a pivot of history.”

That doesn’t sound like a man that is about to make a relatively minor deal.

Rather, that sounds like a man that is thinking about his legacy.

And we are not likely to know all of the details of any potential agreement in advance.

In recent years, Netanyahu has become a big proponent of secret negotiations.  He made this quite clear during an interview with Al Arabiya TV last December…

Israel’s Prime Minister Netanyahu made that perfectly clear in his 50 minute interview on Saudi Government-controlled Al Arabiya TV on 15 December:

“You know, I’m sort of a champion of a slight twist in what Woodrow Wilson said in the Versailles Peace Conference. He said he believed in open covenants, openly arrived at. I believe in open covenants, secretly arrived at or discreetly arrived at. There we will have to have discussions about all the questions that you asked today and see how we can advance this. If you try to sort it out in advance you get stuck. That’s what happens.

I am entirely convinced that a deal is coming, and when it is finally unveiled it will shock the world.

For now, the Palestinians are taking a cautious approach to any potential deal, and they have made a list of some of the things that they would like to see included…

• Transferring parts of the West Bank currently under full Israeli control (known as Area C under the 1990s Oslo peace accords) to the governance of the Palestinian Authority
• A “complete cessation” of Israeli settlement growth in the West Bank
• Resuming Saudi financial support to the PA, which slowed from 2016 and stopped completely three years ago, to the tune of around $200m (£160m) per year
• Re-opening the US consulate in Jerusalem – the diplomatic mission to the Palestinians – that was shut down by President Donald Trump
• Resuming US-brokered negotiations between Israel and the Palestinians from where they stopped under then-Secretary of State John Kerry in 2014.

And the Palestinians are also promising “to avoid embarrassing Saudi Arabia” during these negotiations…

US diplomats have obtained assurances from Palestinian officials that they will neither publicly reject nor undermine the White House-promoted normalization talks between Saudi Arabia and Israel.

A diplomat from the US State Department told The Media Line that the Palestinian Authority has pledged not to publicly criticize any potential normalization deal with Israel, to avoid embarrassing Saudi Arabia.

An American official, speaking on condition of anonymity due to the sensitive nature of the subject, indicated that the Biden Administration was working closely with Saudi Arabia. They aim to develop a financial and political package intended to placate the Palestinians and prevent a response similar to that generated by the 2020 Abraham Accords, which established diplomatic ties between Israel, the United Arab Emirates, and Bahrain.

The Saudis are very eager to reach a deal within the next year, because they know a deal may not be possible if Joe Biden does not win the 2024 presidential election in the United States.

And obviously the Biden administration is motivated to move things along quickly too, because their days may be limited.

But if the land of Israel is formally divided in 2024, that is going to have enormous implications for all of us.

I have been warning that this was coming, but for a long time it appeared that any sort of an agreement between the Israelis and the Palestinians would be impossible.

Unfortunately, this new plan to merge Jordan, Gaza and the West Bank into a single entity called “The Hashemite Kingdom of Palestine” may provide the basis for a major breakthrough.

It won’t be easy, but if a way can be found to satisfy the Israelis, the Palestinians, the Saudis and the Biden administration, 2024 could potentially be a year when the unthinkable becomes reality.

Michael’s new book entitled “End Times” is now available in paperback and for the Kindle on Amazon.com, and you can check out his new Substack newsletter right here. Article cross-posted from End of the American Dream.

(Article cross-posted from Reclaim The Net)

This distressing development underlines the kingdom’s complete intolerance of free speech and underscores escalating attempts to suppress dissent, gaining international criticism.

Predominantly employed for prosecuting terrorism-related cases, the Saudi Specialized Criminal Court indicted al-Ghamdi with a slew of profound charges, among which were “betraying his religion,” “impugning the kingdom and the crown prince,” “conspiring against the government,” and “disturbing the society’s security.” These grave offenses all trace back to his online activity, which entailed sharing opinions critical of the government.

What makes this case convoluted is that al-Ghamdi’s brother, Saeed bin Nasser al-Ghamdi, who resides in the UK, is renowned for his critical stance towards the Saudi regime. The latter believes this sentence against his brother is a mere ploy to get to him.

This tactic of targeting family members as a means to exert pressure on critics abroad is not uncommon, according to activists and those who have faced similar persecutions in the past.

Not surprisingly, this verdict has resonated internationally, inducing reproach from global human rights groups.

As the death penalty handed to al-Ghamdi underlines, the right to express dissent is notably endangered in the kingdom. The message being transmitted is ominous and unequivocal: any voice, however quiet or loud, daring to dissent, is at risk. Even a mere tweet could warrant a fatal outcome, heralding a profoundly disquieting future for free speech in Saudi Arabia.

Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the UAE are the six new countries BRICS welcomed into the coalition and they will become official members on January 1, South African President Cyril Ramaphosa said at the summit hosted in his country, according to Reuters. Leaders of the original BRICS countries described the historical and geopolitical significance of the new member additions and suggested this is only the beginning.

“BRICS has embarked on a new chapter in its effort to build a world that is fair, a world that is just, a world that is also inclusive and prosperous,” Ramaphosa said, according to Reuters. “We have consensus on the first phase of this expansion process and other phases will follow.”

Dozens of other countries including Bolivia, Cuba and Kazakhstan also want to join BRICS, according to Reuters.

“This membership expansion is historic,” Chinese President Xi Jinping, said, according to Reuters. “It shows the determination of BRICS countries for unity and cooperation with the broader developing countries.”

Russian President Vladmir Putin did not attend the summit because of an International Criminal Court arrest warrant for his alleged crimes in Russia’s war with Ukraine, according to Reuters.

“BRICS is not competing with anyone,” Putin said in remotely recorded remarks, according to Reuters. “But it’s also obvious that this process of the emerging of a new world order still has fierce opponents.”

The BRICS coalition, which has expanded to encompass 11 nations, consists of a combined population of 3.7 billion people including three authoritarian states, two autocratic monarchies and a theocracy, according to The New York Times.

Representatives from several countries railed against the dollar, suggesting a desire to decrease dependence on the U.S. currency at the summit on Tuesday, according to reports.

Sound off about this development on our Economic Collapse Substack.

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Lake highlighted just the latest example of massive corruption from Hobbs and the people surrounding her. The partner of Hobbs’ top advisor is now lobbying for a Saudi company to export precious water from the drought-stricken state.

As Lake noted on Twitter, this is “corruption in broad daylight”:

A Saudi Arabian company has been exporting Arizona water overseas despite our historic drought. They just hired the business partner of @katiehobbs’ TOP campaign adviser to lobby for them. This is corruption in broad daylight. Hobbs is selling Arizona out to the highest bidder. And I will fight like hell to stop her.

A Saudi Arabian company has been exporting Arizona water overseas despite our historic drought.

They just hired the business partner of @katiehobbs’ TOP campaign adviser to lobby for them.

This is corruption in broad daylight.

Hobbs is selling Arizona out to the highest…

— Kari Lake (@KariLake) July 27, 2023

Multiple legal battles have been fought to try to correct the stolen Arizona election of 2022, but the corrupt judiciary has been running the standard voter-fraud-cover-up script. Despite the fact that hundreds of thousands of votes are “questionable” at best in the extremely tight race, Hobbs continues to sit in the Governor’s office.

But Lake keeps fighting for Arizonans nonetheless.

Here’s the story about the scandal in question generated from corporate media reports by Truth Based Media:

Saudi Company Hires Partner of Katie Hobbs’ Top Advisor to Lobby for Water Exports During Drought

A recent development surrounding a Saudi Arabian company’s groundwater pumping leases under state land has raised concerns due to its hiring of a new lobbyist with ties to Arizona Governor Katie Hobbs’ campaign adviser. The foreign company, Fondomonte, entered into a contract with Chad Guzman and his firm, Signal Peak Consulting. Guzman is the sole member of Signal Peak and is also involved in managing a lobbying firm called Fillmore Strategy, alongside Joe Wolf, Hobbs’ senior adviser.

Both Guzman’s and Wolf’s companies share the same address in state business registration records. Despite being closely associated with Hobbs, Wolf stated that he is no longer receiving payments from the governor’s campaign. Signal Peak Consulting was hired approximately two months ago, according to Matthew Benson, a partner at political firm Veridus and spokesperson for Fondomonte. The scrutiny of Fondomonte’s below-market-rate leases of state land led to increased attention, and Signal Peak was only recently registered as a lobbyist for Fondomonte.

Both Wolf and Benson denied any involvement of Wolf in Fondomonte’s affairs, as the company conducts business with state land and water departments under Hobbs’ control. However, questions remain about how Wolf maintains a separation between his shared business with Guzman and Guzman’s consulting clients, which include Fondomonte. Wolf stated that he has no ties to the Saudi company and dismissed the matter as insignificant.

Guzman, on the other hand, has not responded to inquiries seeking comment. According to Benson, the decision to hire Guzman and Signal Peak Consulting was based on Guzman’s expertise and extensive experience in natural resources and water issues. Benson himself was hired by Fondomonte to handle strategic communications.

Fondomonte’s leases of state land, which allow them to pump unlimited amounts of water, were brought to light by The Arizona Republic last year. The company secured leases under a prior administration, with one lease in the Butler Valley near Bouse costing only $25 per acre, a fraction of the market rate. Fondomonte uses the land to grow alfalfa for export to the Middle East, relying on groundwater from a transfer basin that could potentially serve as a future water supply for the Phoenix area. This controversy has arisen amidst a severe megadrought in the West, with areas like Rio Verde Foothills exemplifying the region’s water scarcity.

Governor Hobbs criticized these leases during her campaign and in her first State of the State speech. The issue became a non-partisan concern during the 2022 election cycle, with candidates from various parties criticizing what they perceived as favorable deals for Fondomonte. Hobbs’ administration is currently studying approaches for transportation basin leases and aims to prioritize Arizona’s interests. However, they declined to comment on the connection between Guzman and Wolf or a recent article in the Washington Post suggesting that Hobbs’ staff recommended not renewing Fondomonte’s leases, set to expire next year.

Under Hobbs’ purview, the state Department of Water Resources halted two well-drilling permits for Fondomonte earlier this year, and in May, paused lease renewals and applications for state-owned land in basins like Butler Valley.

Fondomonte has hired notable Arizona political figures as lobbyists, including Jordan Rose, founder of Rose Law Group, and former Congressman John Shadegg. The company intends to leverage their expertise on water issues to communicate with officials regarding its operations and the significance of agriculture, particularly alfalfa, to the state’s economy.

The shock caused by lower global oil output is threatening to undermine U.S. energy stability and send prices at the pump soaring over the next few weeks and months. With the relationship between America and OPEC nations deteriorating, our geopolitical leverage is weakening, and the Saudis are seeing this situation as a perfect opportunity to strengthen their dominance in the global scenario.

Saudi Arabia and a handful of OPEC+ nations have been announcing significant cuts in their oil production this year. The Saudis and Russia, the world’s biggest oil exporters, deepened oil cuts earlier this month, sending prices higher for a third time this year. Saudi Arabia said it would extend its voluntary oil output cut while Russian Deputy Prime Minister Alexander Novak said Moscow would cut its oil exports by 500,000 barrels per day in August.

Similarly, Algeria said it would cut oil output by an extra 20,000 barrels from Aug. 1-31. The coming cut will be on top of a 48,000 barrel reduction decided in April, it said. The move was swiftly followed by Libyan Oil Minister Mohamed Oun. In all, the coalition, which pumps around 40% of the world’s crude oil, already has in place cuts of 3.66 million barrels per day, amounting to 3.6% of global demand.

OPEC leaders continue to point to an uncertain demand outlook as the catalyst for their decision. Moreover, many officials in Riyadh, the Saudi capital, were reportedly frustrated that U.S. Energy Secretary Jennifer Granholm recently said that it would be “difficult” for the United States to refill its Strategic Petroleum Reserve this year.

In January, the administration said it would boost its domestic reserves when oil dropped below around $70 a barrel, as it did for a brief period after the failure of Silicon Valley Bank. However, that opportunity was missed, and now U.S. supplies are rapidly shrinking.

The combination of a recession, the crisis in the banking sector and the reopening of the Chinese economy is making most analysts project a significant decline in global oil supply this year and next, after many decades of underinvestment to build new capacity. The latest production cut means that a tighter market and higher oil prices will arrive sooner than previously expected. That may be a disastrous scenario for America, but for the Saudis, spiking oil prices could more than compensate for lower sales, boosting OPEC revenues.

The price of oil on global markets is a major driver of gasoline prices in America, so as the price of oil goes up, gasoline prices will follow, and we should start bracing for a repeat of what happened last year when oil prices surged, sending the national average price for gasoline to a record of as much as $5 per gallon.

This summer, prices remained at the $3.50 average per gallon, bringing some relief to Americans after several months of rising inflation. But these lower costs didn’t come as a result of higher inventories. Instead, they were caused by political decisions amid the growing disapproval of the administration in recent polls.

Our national reserves have been depleted, and higher oil prices will make it even harder for us to rebuild domestic inventories. While other economic superpowers have become more independent, now more than ever, the U.S. is relying on other nations for resources, and that will come at a very expensive price for all of us.

Article and video via Epic Economist.

One of the key pillars keeping the dollar in place as the world reserve is its petro-status, and this factor is often held up as the reason why the Greenback cannot fail. The other argument is that the dollar is backed by the full force of the US military, and the US military is backed by the US Treasury and the Federal Reserve – In other words, the dollar is backed by…the dollar; it’s a very circular and naive position.

These sentiments are not only pervasive among mainstream economists, they are also all over the place within the alternative media. I suspect the main hang-up for liberty movement analysts is the notion that the globalist establishment would ever allow the dollar or the US economy to fail. Isn’t the dollar system their “golden goose”?

The answer is no, it is NOT their golden goose. The dollar is just another stepping stone towards their goal of a one-world economy and a one-world currency. They have killed the world reserve status of other currencies in the past, why wouldn’t they do the same to the dollar?

Globalist white papers and essays specifically outline the need for a diminished role for the US currency as well as a decline in the American economy in order to make way for Central Bank Digital Currencies (CBDCs) and a new global currency system controlled by the IMF. I warned about this years go, and my position has always been that the derailment of the dollar would likely start with the end of its petro status.

In 2017 I published an article titled ‘Saudi Coup Signals War And The New World Order Reset’. I noted at the time that the sudden power shift over to crown prince Mohammed Bin Salman indicated a change in Saudi Arabia’s relationship to the US. I stated that:

“To understand how drastic this coup has been, consider this — for decades Saudi Kings maintained political balance by doling out vital power positions to separate, carefully chosen successors. Positions such as Defense Minister, the Interior Ministry and the head of the National Guard. Today, Mohammed Bin Salman controls all three positions. Foreign policy, defense matters, oil and economic decisions and social changes are now all in the hands of one man.”

The rise of MBS was backed by the Public Investment Fund (PIF), a fund comprised of trillions of dollars supplied by globalists within Carlyle Group (Bush family, etc.), Goldman Sachs, Blackstone and Blackrock. MBS garnered the favor of the globalists for one specific reason – He openly supported their “Vision For 2030”, a plan for the dismantling of “fossil fuel” based energy and the implementation of carbon controls. Yes, that’s right, the head of Saudi Arabia is backing the eventual end of oil based energy, and part of that includes the end of the dollar as the petro currency.

In exchange for their cooperation, the Saudis are being given access to ESG-like funding as well as access to AI advancements and the so-called “digital economy.”  It sounds crazy, but there is much talk of AI developments to cure numerous health problems and extend lifespan.  With those kinds of promises, it’s not surprising that Saudi elites would be willing to dump the dollar and even oil.

In 2017 I noted that:

“I believe the next phase of the global economic reset will begin in part with the breaking of petrodollar dominance. An important element of my analysis on the strategic shift away from the petrodollar has been the symbiosis between the U.S. and Saudi Arabia. Saudi Arabia has been the single most important key to the dollar remaining as the petrocurrency from the very beginning.”

I believed that the threat to petro status would ultimately be spurred on by a proxy war between East and West:

“World economic war is the real name of the game here, as the globalists play puppeteers to East and West. It is a geopolitical crisis they will have created to engineer public support for a solution they predetermined.”

Back then I thought that such a proxy war would be initiated in the Middle East, possibly in Iran. However, it’s clear that Ukraine is the powderkeg the globalists have chosen, at least for now, with Taiwan being the next shoe to drop.

In the years since I made these predictions the relationship between Saudi Arabia, Russia and China has grown very close. Arms deals and energy deals are becoming a mainstay of trade and this has led to a quiet but steady distancing of the Saudis from the dollar. This past week, the dominoes were set in motion for dollar collapse when Saudi Arabia announced at Davos that they are now willing to trade oil in alternative currencies.

In response, Xi Jinping pledged to ramp up efforts to promote the use of the Chinese yuan in energy deals. This falls in line with another article I wrote in 2017 titled ‘The Economic End Game Continues,’ in which I described how conflict with Eastern nations (China and Russia) would be exploited to create a catalyst for the end of the dollar’s petro status.

The importance of the Saudi announcement cannot be overstated; this is the beginning of the end of the dollar. The dollar’s world reserve status is largely dependent on its petro-status. Without one, you cannot have the other. This is almost the exact same dynamic that led to the implosion of the British Sterling decades ago as the global petro currency which resulted in the rise of the dollar to take its place.

This time, though, it will not be a single foreign currency that takes on the role of world reserve, it will be a basket currency system controlled by the IMF called Special Drawing Rights, along with a single global digital currency that is yet to be named but is now under development.

The consequences of the loss of reserve status will be devastating to the US economy. It is the only glue holding our system together – The ability to defer inflation by exporting it overseas is a superpower only the US enjoys. The Fed can print money perpetually if it wants to in order to fund the government or prop up US markets, as long as foreign central banks and corporate banks are willing to absorb dollars as a tool for global trade. If the dollar is no longer the primary international trade mechanism, the trillions upon trillions of dollars the Fed has created from thin air over the years will all come flooding back to the US through various avenues, and hyperinflation (or hyperstagflation) will be the result.

This dynamic is already in play, as foreign holders of US debt and dollars have been dumping them at record pace since 2017. The process continues at a time when the Federal Reserve is cutting it’s balance sheet and raising interest rates, which means there is no longer a buyer of last resort.

This may be why multiple foreign central banks have renewed their purchases of gold reserves and are once again stockpiling precious metals. They seem to be well aware of what is about to happen to the dollar, while the American public is kept in the dark.

The effects of the decline of the dollar may not be immediately felt, or become obvious for another year or two. What will happen is consistent inflation on top of the high prices we are already dealing with. Meaning, the Federal Reserve will continue to hold interest rates higher and prices will barely budge or they may climb in spite of monetary tightening. Even in the face of a major recessionary contraction, which I predict will be triggered starting in April, prices will STILL remain higher.

All the while the mainstream media and government economists will say they have “no idea” why inflation is so persistent, and that “nobody could have seen this coming.” Some of us saw it coming, but only because we accept the reality that the dollar’s days are numbered.

Article cross-posted from Alt-Market.

Alternative Video Source:

In the past year, Egypt has been hit exceptionally hard by soaring oil and commodity prices resulting from global economic turmoil. Foreign portfolio investors have already pulled out around $22 billion from Egyptian debt markets. (Related: Egypt joins BRICS-owned New Development Bank, expresses interest in becoming full-fledged member of BRICS.)

In response to the economic turmoil, Egypt devalued its currency in March and then again by around 18 percent in late October, causing the $400 billion economy to face the worst foreign-exchange crunch in over half a decade.

Egypt has asked the IMF to provide it with more support – on top of a previous $12 billion IMF loan the country is still paying back.

The executive board of the IMF noted that it will send the approximately $3.1 billion bailout in tranches, and the first disbursement of about $347 million will be provided immediately.

As part of the loan agreement, Egypt has acquiesced to several loan conditions. This includes committing to “a permanent shift to a flexible exchange rate regime to increase resilience against external shocks and to rebuild external buffers.”

The Central Bank of Egypt has also promised several changes, including more efforts to control inflation and stabilize commodity prices, improve efficiency of the nation’s monetary policy and remove a requirement for importers to acquire letters of credit to buy goods from abroad.

Furthermore, the government of Egypt has introduced structural reforms to reduce government spending, level the playing field across all economic agents, facilitate more private sector-led growth and strengthen governance and transparency in the public sector.

IMF bribing Egypt to stop de-dollarization efforts

Holly Seeliger of “Zoon Politikon” noted that BRICS enticing other developing economies like Egypt to join their economic union is part of a global de-dollarization effort to topple the American dollar’s position as the world reserve currency.

“Egypt stepping up as de-dollarization efforts seem to have sent shockwaves to the West,” said Seeliger. “So, now the IMF has arrived to rescue the petrodollar by bribing Egypt to stop its de-dollarization efforts.”

Michael Mahanta, writing for TFIGlobal News, agreed with Seeliger. He wrote: “It is well known how IMF often secures or advances U.S. interests by using its economic clout. It has done it again, the case of Egypt, in the name of economic assistance.”

Official statements from the IMF and Egypt claim that the $3.1 billion loan will catalyze about $14 billion in additional financing from the country’s international and regional partners. This includes new financing from allies in the Gulf states “through the ongoing divestment of state-owned assets as well as traditional forms of financing from multilateral and bilateral creditors,” claimed the IMF.

Learn more about BRICS and international finance at CurrencyReset.news.

Watch this episode of “Zoon Politikon” as host Holly Seeliger discusses the IMF’s attempt to bribe Egypt into staying in the West’s sphere of influence.

This video is from the Zoon Politikon channel on Brighteon.com.

More related stories:

• BRICS nations moving rapidly to circumvent the US dollar as the World Reserve Currency.
• End of petrodollar edges closer as Saudi Arabia looks set to join new China-dominated ‘BRICS’ economic alliance.
• Economists warn: IMF, World Bank may have little space to maneuver as they lend record amounts to poorest countries.
• BRICS member nations are creating new reserve currency to challenge the dollar, Andy Schectman tells Mike Adams.
• Argentina, Iran apply to join BRICS group of emerging economies.

Sources include:

• Brighteon.com
• CentralBanking.com
• Bloomberg.com
• TFIGlobalNews.com
• NATURAL NEWS

So Democrats aren’t worried about the global impact of “climate change” when other countries produce oil but if America produces it’s own, it’s a full blown environmental crisis… Got it.

So Democrats aren’t worried about the global impact of “climate change” when other countries produce oil but if America produces it’s own, it’s a full blown environmental crisis…

Got it. https://t.co/vU1mz8L3gg

— Courtney Holland (@hollandcourtney) July 15, 2022

As Holland notes, it would seem as if American resources are worse for the environment than oil pumped in from other nations. That’s not true, of course, but political expedience and a globalist agenda are both in play whenever Joe Biden’s handlers tell him to say something.